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Market LIVE Updates: Sensex above 61,700, Nifty around 18,350; Keystone Realtors makes tepid listing – Moneycontrol

November 24, 2022 / 10:19 AM IST

Trade Spotlight | What should you do with RCF, KPIT Technologies, Rallis India on Thursday?

KPIT Technologies shares rallied more than 6 percent to Rs 727 and formed long bullish candle on the daily charts with above average volumes. There was a breakout of long downward sloping resistance trend line adjoining January 10 and November 17 this year.

November 24, 2022 / 10:16 AM IST

PB Fintech Large Trade | 73.4 lakh shares (1.6% equity) worth Rs 295 crore change hands at Rs 401 per share

PB Fintech Large Trade | 73.4 lakh shares (1.6% equity) worth Rs 295 crore change hands at Rs 401 per share

November 24, 2022 / 10:12 AM IST

Rustomjee Group firm Keystone Realtors lists at 2% premium to issue price

Mumbai-based realty firm Keystone Realtors made a tepid debut on the bourses listing at 2.6 percent premium to its issue price of Rs 541 per share. The stock started trading at Rs 555 on the NSE and BSE.

The company’s initial public offering had seen lacklustre response from investors as the offer was subscribed just 2.01 times during November 14-16. Qualified institutional buyers bought shares 3.84 times the allotted quota and high networth individuals 3 times, but retail investors bid for only 0.53 times of the portion set aside for them.

November 24, 2022 / 10:02 AM IST

Market at 10 AMIndian benchmark indices extended the early gains and trading near day’s high with Nifty around 18350.The Sensex was up 261.02 points or 0.42% at 61771.60, and the Nifty was up 80.10 points or 0.44% at 18347.40. About 1961 shares have advanced, 918 shares declined, and 134 shares are unchanged.

Market at 10 AM     Indian benchmark indices extended the early gains and trading near day's high with Nifty around 18350.    The Sensex was up 261.02 points or 0.42% at 61771.60, and the Nifty was up 80.10 points or 0.44% at 18347.40. About 1961 shares have advanced, 918 shares declined, and 134 shares are unchanged.

November 24, 2022 / 09:50 AM IST

Jefferies maintains ‘Buy’ rating on Delhivery, target at Rs 700

-Buy rating, target at Rs 700 per share
-B2C seeing a temporary versus structural slowdown 
-B2B ramp-up will be with profitability focus
-Current price factors in 6-8 percent express parcel growth in 3-5 years versus 25 percent plus levels in past
-B2B growth prospects, operating leverage & low e-comm penetration being underestimated

Delhivery was quoting at Rs 335.00, up Rs 9.35, or 2.87 percent on the BSE.

November 24, 2022 / 09:41 AM IST

General Atlantic Singapore Fund offloads 15.12% stake in IIFL Wealth ManagementInvestor General Atlantic Singapore Fund Pte Ltd sold 15.12% stake in IIFL Wealth Management via off market transactions on November 22. With this, General Atlantic’s shareholding in the company reduced to 5.84%, from 20.96% earlier.

General Atlantic Singapore Fund offloads 15.12% stake in IIFL Wealth Management     Investor General Atlantic Singapore Fund Pte Ltd sold 15.12% stake in IIFL Wealth Management via off market transactions on November 22. With this, General Atlantic's shareholding in the company reduced to 5.84%, from 20.96% earlier.

November 24, 2022 / 09:38 AM IST

Nifty PSU Bank index added over 1 percent supported by the UCO Bank, Bank of India, Bank of Maharashtra

Nifty PSU Bank index added over 1 percent supported by the UCO Bank, Bank of India, Bank of Maharashtra

November 24, 2022 / 09:30 AM IST

Tata Consumer plans to acquire Bisleri for Rs 7,000 crore: Report

Chairman of Bisleri International, Ramesh J Chauhan, plans to divest the company to Tata Consumer Products Ltd (TCPL) for an estimated Rs 6,000-7,000 crore, the Economic Times reported on November 24.

The current management will continue for two years as part of the deal, the report said.

Bisleri is India’s largest packaged water company and the turnover for FY23 is estimated at 2,500 crore with profit at 220 crore. Read More

November 24, 2022 / 09:24 AM IST

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The US market construct of ‘rising equity-falling bond yields-falling dollar’ continues favouring the bulls. In addition to this favourable global cues, in India, the steadily falling crude is another positive. The FOMC minutes indicate slowing of the rate hikes, going forward. 

Consequently, the 10-year yield fell to 3.69% and the dollar index slipped to 106. So long as this trend continues, bears will be on the back foot. 

In India macro news confirms the resilience of the Indian economy. Investment is gaining momentum. The latest RBI data shows credit growth at an impressive 17% YoY. This is good news for the banking and capital goods stocks.

November 24, 2022 / 09:22 AM IST

Delhivery Large Trade | 32.1 lakh shares (0.44% equity) worth RS 104.8 crore change hands at an average Rs 327 per share, reported CNBC-TV18.

Delhivery Large Trade | 32.1 lakh shares (0.44% equity) worth RS 104.8 crore change hands at an average Rs 327 per share, reported CNBC-TV18.

November 24, 2022 / 09:20 AM IST

Gainers and Losers on the BSE Sensex in the early trade:

Gainers and Losers on the BSE Sensex in the early trade:

November 24, 2022 / 09:19 AM IST

Glenmark Pharma shares fall post USFDA issues warning letterWe refer to our letter dated 27th August 2022 informing you about the Official Action Indicated (OAI) status of the Company’s Goa (India) manufacturing facility by US FDA following the inspection conducted in May 2022. We wish to inform you that the USFDA has now issued a warning letter to the Goa (India) facility, Glenmark Pharma said in its release.The company does not believe that the warning letter will have an impact on disruption of supplies or the existing revenues from operations of this facility.

Glenmark Pharma shares fall post USFDA issues warning letter     We refer to our letter dated 27th August 2022 informing you about the Official Action Indicated (OAI) status of the Company’s Goa (India) manufacturing facility by US FDA following the inspection conducted in May 2022. We wish to inform you that the USFDA has now issued a warning letter to the Goa (India) facility, Glenmark Pharma said in its release.    The company does not believe that the warning letter will have an impact on disruption of supplies or the existing revenues from operations of this facility.